Thursday, 25 February 2016

1pm update - holding together

US equities are holding together, merely consolidating the Wednesday recovery gains. A daily close in the sp'1940s is viable, along with VIX settling under the key 20 threshold. Another tranche of equity bears are set to get short-stopped out, as a break above the 50dma is due tomorrow/early next week.



Little to add.. as price action remains subdued.

This is mere consolidation/chop ahead of the next wave higher.

It will be amusing to see just how bullish about the economy the mainstream get, once we see a daily close above the 50dma.

notable strength... CREE, daily

Next upside target is the rather obvious gap zone of $34/35.. which is another 10% higher. Everyone needs lighting, right?
back at 2pm